Current reports show that real estate shares are under heavy pressure of selling. Last Tuesday BSE real estate index was closed at 1,822.14 falling down by 3 %.
Real estate shares are under heavy pressure to sell off mainly because of profit-booking. Real estate investors’ sentiment was all the more hurt by the 7.8 % inflation of September. This was the highest in all the ten months of the year.
The 3% of fall of real estate shares was the highest among all the sectors. The shares of all real estate majors also affected heavily. DLF shares were sold at Rs.208 with a decline of 4.3%. Another real estate major Unitech fell to Rs.25.65 after facing a decline of 4.8 %.
The biggest real estate loser was Anant Raj Industries which dropped by 6.8%. HDIL had the second worst position as it had a drop by 5.7%. Continue reading